Sei Investments Co. increased its stake in shares of Globus Medical Inc (NYSE:GMED) by 829.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 29,404 shares of the medical device company’s stock after acquiring an additional 26,239 shares during the period. Sei Investments Co.’s holdings in Globus Medical were worth $874,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in Globus Medical by 19.9% during the 2nd quarter. SG Americas Securities LLC now owns 47,862 shares of the medical device company’s stock worth $1,587,000 after acquiring an additional 7,937 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Globus Medical by 26.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 166,090 shares of the medical device company’s stock worth $5,505,000 after purchasing an additional 34,513 shares during the last quarter. Vanguard Group Inc. increased its holdings in Globus Medical by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock worth $189,355,000 after purchasing an additional 76,345 shares during the last quarter. AJO LP purchased a new stake in Globus Medical during the 2nd quarter worth approximately $1,262,000. Finally, Russell Investments Group Ltd. increased its holdings in Globus Medical by 20.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 165,030 shares of the medical device company’s stock worth $5,471,000 after purchasing an additional 28,437 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider A Brett Murphy sold 51,449 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $35.00, for a total value of $1,800,715.00. Following the completion of the sale, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David D. Davidar sold 55,383 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.66, for a total value of $2,251,872.78. Following the completion of the sale, the director now owns 752,236 shares of the company’s stock, valued at $30,585,915.76. The disclosure for this sale can be found here. 28.21% of the stock is currently owned by insiders.

Globus Medical Inc (NYSE GMED) traded down $0.60 during mid-day trading on Friday, reaching $38.75. The company’s stock had a trading volume of 740,986 shares, compared to its average volume of 875,524. Globus Medical Inc has a 52 week low of $23.43 and a 52 week high of $41.70. The stock has a market cap of $3,730.00, a P/E ratio of 31.47, a PEG ratio of 2.98 and a beta of 0.58.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The business had revenue of $151.74 million during the quarter, compared to the consensus estimate of $150.73 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. research analysts anticipate that Globus Medical Inc will post 1.27 EPS for the current fiscal year.

GMED has been the topic of several analyst reports. Zacks Investment Research downgraded Globus Medical from a “hold” rating to a “sell” rating in a report on Monday, September 4th. BidaskClub upgraded Globus Medical from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating in a report on Friday, November 10th. Barclays lifted their price objective on Globus Medical from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, November 9th. Finally, Gabelli restated a “buy” rating on shares of Globus Medical in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.83.

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Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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